9 in 10 Fire-Closed Businesses Will Fail Over 10 Years

The impact of this fire disaster on self employed … or gig workers … can be severe.

Susheel Kummar … an official at the Small Business Administration … has this alarming statistic.

NEWSCART SBA FAILURES QQQ I’M CONCERNED

“One on five businesses that closes for the first five days of a disaster … hads a 90 percent chance of failure in the next year.”

A ninety percent failure rate. That is something to worry about.

Kummar says the signup rate in Malibu is distressing.

SBA offers loans to businesses, homeowners and renters.

And in some cases … supposedly … FEMA offers grants for those unable to take out loans.

FEMA and the SBA have extended the deadline to sign up for disaster assistance …. the deadline has been pushed back to the end of January.

Statewide … more than 26 thousand applications have been filed by survivors of the Camp, Hill and Woolsey Fires have been received by FEMA to date.

There is a meeting this afternoon for for small business owners who have suffered impact, either physical or economic.

And don’t forget … gig workers are businesses … too.

SBA and other members of the Economic Development Collaborative are holding a meeting for small businesses this afternoon.

Representatives from local, state, and federal agencies will present opportunities on how to recover and rebuild after the Woolsey Fire.

The meeting is at Pepperdine University’s Calabasas Campus (26750 Agoura Road) from 3:00 PM- 5:00 PM.  

This is the Pepperdine University campus in Calabasas … (26750 Agoura Road)  … not the Malibu campus.

And again … the deadline for submitting applications for low-interest disaster loans from the U.S. Small Business Administration (SBA) has also been extended to Jan. 31.